Tag Archives: energy storage

Fuel cells and hydrogen energy systems- viable option for greener future.

The Uk’s innovation agency, the Technology Strategy Board, and the Department of Energy and Climate Change will be funding five major government-backed research and development projects intended to bring hydrogen and fuel cell technologies into everyday use. These projects will demonstrate how these technologies can be integrated into other areas of energy and transport (e.g. the generation of renewable energy, a refuelling infrastructure) to develop whole systems and how effectively they can work together.

The projects will be selected through a competitive process, and led by Air Products PLC, BOC Ltd, ITM Power, Rutland Management LTD and SSE plc with the following structure: -

- An end-to-end, integrated, green hydrogen production, distribution and retailing system (the first of its kind in the UK) which will be centred around a fully publicly accessible, state-of-the-art 200 bar renewable H2 refuelling station network across london. (Air Products PLC- expertise in atmospheric gases, process & specialty gases, performance materials, and equipment & services).

-The delivery of solar energy generated hydrogen for Swindon’s existing public access via an electrolyser, and its use in materials handling vehicles and light vans at Honda’s manufacturing plant (BOC ltd- versed in thousands of different gases and mixtures, as well as related equipment and services).

-The integration of an electrolyser based refueller with renewable energy which will allow zero carbon hydrogen to be produced for use as a transport fuel for a number of vehicles (ITM Power- design and manufacture of hydrogen energy systems for energy storage and clean fuel production).

-The demonstration of a viable solar-hydrogen energy system, with benefits shared by multiple end users of a business park in Surrey, through the necessary provision of green electricity and heat (Rutland Management LTD- expertise in facility management)

-The demonstration of a whole renewable hydrogen system by connecting a 1MWe electrolyser to the grid, in conjunction with an Aberdeenshire windfarm. This will explore grid impacts, and the energy storage potential of hydrogen generation, and provide the green hydrogen produced to power of fleet of fuel cell buses (SSE plc- UK’s best overall energy provider for eight consecutive years)

These projects will accelerate the process towards the commercialisation of fuel cells and hydrogen energy systems.

ITM Power and their plans

ITM Power, a clean fuel firm based in Sheffield, wants to fund its growth, and they are planning to do this by raising up to £9m through share issues. The company develops and sells electrolyster technology to turn electricity into hydrogen gas. The company already raised £5m by issuing 10 million new ordinary shares at 50p per share to institutional investors and non-executive director Peter Hargreaves. Via an open offer, they want to issue another eight million shares. This could take the total money raised to around £8.9m.

Non-executive chairman of ITM Power, Roger Putnam, said that this is a crucial time for the development of the company. It’s important for the company to have a strong balance sheet so the on-going commercial relationships can be supported and stay supported. He said that he was very delighted that Peter Hargreaves, the existing institutional shareholders, and some new institutions showed their commitment to the company in this funding round.

Since the first pack of issued shares was just for the institutional investors, the board felt like this is unfair for the existing shareholders. That’s why they are making an open offer of shares to the existing shareholders at the same price at the offer of shares to the institutional investors. The existing shareholders need this opportunity to keep participating alongside the institutional shareholders.

Yesterday, the company also revealed its annual results. This year it includes the first significant revenue of £480.000. The company says that their outlook is positive with early revenue streams developing.

Professor Putnam said that ITM power has successfully positioned itself from a platform of commercially launched electrolyster products.  Now they can address the clear opportunities within energy storage and clean fuel generation from renewable power to help build a greener environment and Smart Cities within the UK.

ITM Power is now also at the heart of two initiatives that will define the deployment of hydrogen fuel and energy systems in the UK, UKH2Mobility and Ecoisland.

They came to this point by working so hard to develop and build key relationships. The Technology Strategy Board granted a £1.3m grant to ITM Power to fund a hydrogen
storage and vehicle refueling system on the
Isle of Wight, part of the project called Ecoisland. And as a member of UKH2Mobility, ITM Power helps to ensure that the UK is well positioned for the commercial roll-out of hydrogen fuel cell electric vehicles.